Etude Capital Launches Joint Venture to Invest in Self-Storage

Etude Capital, a private investment firm and self-storage owner, and San Felipe Financing LLC, a private real estate entity controlled by Richard D. Kinder, have launched Etude Storage Partners. The joint venture will invest in self-storage across North America. San Felipe has made a $250 million equity commitment and aims to deploy at least $500 million, according to a press release.

Etude Storage Partners is now positioned to acquire self-storage facilities and provide debt financing to other owners. “For owners looking to sell their business or recapitalize, this partnership enhances Etude’s offer of speed and execution strength, which less nimble and more bureaucratic acquirers cannot match,” said Steven Stein, founder and president of Etude Capital. “The opportunity to partner with Rich, one of America’s most remarkable business leaders, will strengthen our respective firms and is a boon for the entire self-storage industry. We look forward to this long-term partnership with Rich and the Kinder Family Office.”

“We are delighted to partner with Etude and see a compelling opportunity ahead of us to deploy capital within the robust self-storage market,” Kinder said. “Steven and his team have built an impressive platform with distinct investment and operating capabilities that will enable us to move quickly and invest flexibly across the capital structure. With this partnership, we have the opportunity to build a long-term oriented business with stable and attractive cash flows.”

Founded in 2012 and headquartered in Austin, Texas, Etude Capital has grown its self-storage-focused insurance, reinsurance and technology businesses to serve 1,500 facilities nationwide. It owns 1.8 million rentable square feet of self-storage in Florida, Oklahoma and Texas.

Source: Street Insider, Etude Capital Launches Joint Venture to Invest in Self-Storage